The UK government enacted new laws on April 26 that grant the National Crime Agency (NCA) and police enhanced powers to seize, freeze, and destroy digital assets linked to criminal activities.
The new measures aim to disrupt the financial networks of organized crime groups that increasingly exploit cryptocurrencies to launder money
. These legislative changes are part of the UK’s broader strategy to combat cybercrime and manage the risks and benefits of digital assets in the economy.
The update to the UK’s proceeds of crime and anti-terrorism laws eliminates the requirement for an arrest prior to seizing crypto. The adjustment targets criminals who maintain anonymity or operate from overseas.
Law enforcement officers now have the authority to seize items like written passwords or memory sticks that could aid in criminal investigations and transfer illicit digital assets to government-controlled electronic wallets, effectively blocking criminal access.
Additionally, authorities now
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